Mega cap companies are generally thought of as those whose total value of all shares in issue is above $100 billion.
The great inflation debate is on-going, and the truth is that no-one knows for sure what will happen. If there was one economic variable that the Ashburton Investment team would like to know for long term investment it would be the inflation outlook.
China has seen much of the economic recovery from COVID-19 already. Perennial concerns over the banking system and bad debts persist as the nation attempts to pivot towards a more domestically led rather than exporting economy.
The Global Growth Fund climbed 1.9% in February, well above its benchmark of 1.2%.
Efforts to stem the spread have resulted in underlying economic hardships across the world. To prevent the collapse of multiple businesses across sectors, central banks embarked on aggressive monetary expansion last year.
The Chindia Fund (I class USD) returned 2.7%. Chinese markets have been particularly strong supported by positive economic data indicating that the country has returned to pre-pandemic growth rates.
Further liquidity was injected into markets over the month as evidenced by the most recent US M2 money supply data expanding a further 0.5% after rising 1.3% in December.
A century after Henry Ford and his Model T heralded the modern car industry, the stratospheric rise of Elon Musk’s Tesla, the electric car pioneer, is signalling a significant turning point for that industry.
Brexit. Coronavirus. Tiered lockdowns. Trade relations. Regional friction. Where to from here for the UK?
The Chindia Equity Fund (I class USD) returned 3.4% during the month bringing year to date performance to 20.8%.
Equity markets continued to gain further traction in December as investors remained emboldened by vaccine news.
Peering into the mist ahead for the UK in 2021 poses something of a challenge, while so much uncertainty remains from COVID-19 and from the potential sty of unfavourable trade relations with the EU.
A large number of holdings provided very strong returns with the Indian portion of the fund performing strongly.
Unwinding of election risk and positive vaccine news took centre stage in November, with the MSCI World Index surging 12.8% over the month.
We have identified three major secular trends catalysed by the Coronavirus (COVID-19) - and have invested in the stocks that are expect to most benefit in the Ashburton Global Leaders Equity Fund. The fund invests in a concentrated portfolio of the world’s most prominent mega-cap companies.